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Mkts lackluster with low volumes
It was a lackluster day of trade, markets closed in the red with low volumes. Even global markets did not look particularly confident while India was trading, Europe especially was a bit weak and that might have soured things a little bit. So, for the Nifty and the largecap universe it was another rangebound session, and no more.
Here is a verbatim transcript of the exclusive interview with Udayan Mukherjee on CNBC-TV18. Also watch the accompanying video.
It was another quiet day out there, but today it was with a downward bias. In fact it could have been worse had it not been for a late recovery because at one point it looked a bit alarming the way the market was breaking down to 2,750 and below. But finally we closed above 2,780, lost only about 23 points. We are very much within that trading range and the Sensex has only scaled back about 100 points. So, it was an eventless day for the largecap universe.
A few metal stocks like SAIL , Tata Steel held out in the green. On the way down, Sterlite had a bad day, and all the autos like M&M , Maruti and Tata Motors got mauled a bit. Even frontline technology and capital goods stocks looked quite ordinary in today's session.
Volumes were very dismal once again. So there is no great trader participation in the market at all with the kind of rangebound moves that we have seen. Even global markets did not look particularly confident while India was trading, Europe especially was a bit weak and that might have soured things a little bit. So, for the Nifty and the largecap universe it was another rangebound session, and no more.
